DETTO TECHNOLOGIES, INC. (the "Company")
STOCK OPTION AGREEMENT FOR PURCHASE OF STOCK
We are pleased to inform you that the Company has granted to you, as
the individual named below (the "Optionee"), this Stock Option. This Stock
Option Agreement is a contract between you and the Company. It grants to you
certain defined rights, at certain times and under certain conditions, to
purchase shares of the Company's common stock, and in exchange you accept
certain obligations and responsibilities, as described below and in the
Company's 2004 Stock Option Plan (the "Plan") and the attached Terms and
Conditions.
FOR VALUABLE CONSIDERATION, the Company does hereby grant to the
Optionee, as of the Date of Option Grant specified below, the right and option
to purchase the number of shares of common stock of the Company specified below
(the "Option Shares") for the Exercise Price Per Share specified below, and the
right to purchase the Option Shares under this Stock Option Agreement shall
accrue and vest according to the Vesting Schedule specified below:
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Name of Optionee: Xxxxxxx Xxxxx
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Type of Option: Employee Incentive Stock Option
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Number of Option Shares: 125,000
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Exercise Price Per Share: 1.56
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Date of Option Grant: 8-26-04
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Term of Option: Ten Years from Date of Option Grant
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Vesting Schedule: Twenty-five percent (25%) of the Option
Shares shall vest nine months from the
Grant Date and 1/27th of the remainder
shall vest on the 1st day of each month
thereafter.
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EXECUTED as of the Date of Option Grant.
Detto Technologies, Inc.
By
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Its
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By signing below and entering into this Stock Option
Agreement, Optionee agrees to the terms hereof and all
obligations and responsibilities as described in the Plan and
the attached Terms and Conditions.
OPTIONEE
, as Optionee
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By signing below, Optionee's spouse hereby acknowledges that,
pursuant to the Plan the Company will have certain repurchase
rights with respect to any Shares issued to Optionee upon
exercise of this Stock Option and as a condition to such
exercise, the undersigned will execute such documentation as
may be reasonably required by the Company evidencing the
undersigned's acceptance of and agreement to such repurchase
rights.
SPOUSE
, as Spouse
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